TZL 1577 (web)

March 17, 2025, Issue 1577 WWW.ZWEIGGROUP.COM

TRENDLINES

Value per employee

$75,000 $80,000 $85,000 $90,000 $95,000 $100,000

The latest data reveals rising firm values, stable key metrics, and the impact of market forces on AEC valuations. AEC valuations remain strong

FIRM INDEX BHC....................................................................... 4 Bowman Consulting Group Ltd.......8 Corgan................................................................6 Dunaway...........................................................8 Tamarack Grove Engineering.........10 Ware Malcomb..........................................10 MORE ARTICLES n MICHAEL MAKRIS: From imposter to Rising Star Page 3 n MARK ZWEIG: Get out of doing everything you can – mostly Page 5 n SARA GRAYUM: In the driver’s seat Page 7 n DUNCAN ROBERTSON: Building trustworthy relationships Page 9 Zweig Group’s 2025 Valuation Report shows a steady increase in the value per employee ratio over the past five years, rising from $77,556 in 2021 to $96,738 in 2025. This growth reflects the increasing value AEC firms place on their staff, emphasizing that employees are their most important asset and a key driver of firm valuation. Participate in a survey and save 50 percent on the final or pre- publication price of any Zweig Group research publication.

V aluation is a crucial indicator of a firm’s financial health, and in the architecture, engineering, and construction industry, it serves as a benchmark for ownership transitions, acquisitions, and long-term strategic planning. Zweig Group’s 2025 Valuation Report of AEC Firms reveals key trends that are shaping firm valuations and how companies are navigating the evolving market landscape. The latest data shows that firm values are continuing to rise, with internal transition pricing and pro-rata valuations beginning to align more closely. This suggests that firm leaders are becoming more disciplined in how they approach valuation, ensuring that their businesses remain competitive and attractive to both internal successors and external buyers. KEY METRICS IN AEC FIRM VALUATIONS. The 2025 Valuation Report provides a snapshot of the median AEC firm, which consists of 45 full-time equivalents (FTE), six owners, and holds a book value of $2.6 million. Financially, these firms reported a net service revenue (NSR) of $7.7 million, pre-bonus profit of $1,204,104, EBITDA of $1,357,946, and a backlog of $7.6 million. These figures indicate not only growth in human capital but also in overall firm value compared to last year’s data. One of the most watched valuation metrics, the value/EBITDA ratio, saw a slight increase from 4.23 to 4.28, while the value/ NSR ratio remained relatively stable, shifting marginally from 0.64 to 0.63. These ratios underscore the long-term consistency of valuation trends in the AEC industry, despite fluctuations in market conditions. Similarly, the value/backlog ratio held steady, moving from 0.65 in 2024 to 0.63 in 2025. This data suggests that while firms are navigating higher interest rates and tighter lending conditions, the overall financial health of the AEC industry remains robust. Engineering firms, in particular, have experienced significant backlog growth, while architectural firms continue to see stability in institutional and healthcare- related projects, which have remained reliable revenue drivers.

Kyle Ahern

See KYLE AHERN, page 2

THE VOICE OF REASON FOR THE AEC INDUSTRY

KYLE AHERN , from page 1

HOW THE MARKET IS SHAPING VALUATION EXPECTATIONS. The report highlights a shift in how firms are evaluating their valuation methodologies. Outside investment in the AEC industry is influencing owners to reassess internal pricing methods alongside external market demands. As a result, there is a growing emphasis on revenue recognition, contract profitability, and risk management in M&A and transition planning. One of the key valuation drivers in today’s market is hard backlog – the portion of contracted work that is guaranteed. Buyers are increasingly scrutinizing work- in-progress (WIP) and backlog when evaluating a firm’s value, reinforcing the importance of strong contract management, effective cash flow strategies, and precise project execution. Firms that can demonstrate stability in these areas are positioning themselves more favorably for both internal ownership transitions and external acquisitions. INDUSTRY GROWTH AND THE ROLE OF PUBLIC SECTOR INVESTMENTS. Another factor supporting firm valuations is continued investment in infrastructure and energy-related projects. The equity value/profit ratio stabilized at 3.8 after peaking at 3.91, reflecting a more sustainable pace of growth for the industry. Even with challenges such as rising material costs, workforce shortages, and increased borrowing costs, the expansion of public sector investments is keeping AEC firms on solid footing. The demand for infrastructure improvements, energy projects, and alternative energy developments continues to be a major catalyst for firm growth. In response, firms are focusing on financial discipline, leveraging automation, and adopting alternative project delivery methods to maintain profitability and efficiency in an uncertain economic environment. These strategies are proving essential for firms looking to safeguard their valuations while remaining competitive in an evolving marketplace. UNDERSTANDING FIRM VALUE IN A SHIFTING MARKET. With firm valuations remaining strong but market conditions shifting, AEC leaders need reliable data to navigate ownership transitions, strategic acquisitions, and long-term growth planning. Zweig Group’s 2025 Valuation Report provides a comprehensive analysis of the financial metrics that matter most, offering insights into trends that influence firm valuation and the factors shaping future growth. For firm leaders, investors, and stakeholders looking to benchmark their business against industry standards, understanding these valuation trends is essential. Whether planning for an internal transition, considering external investment, or simply assessing financial health, having a data-driven approach is key. Firms that prioritize financial discipline, risk management, and strategic growth initiatives will be best positioned to sustain and enhance their value in the years ahead. Zweig Group’s 2025 Valuation Report of AEC Firms is a vital resource for anyone seeking to stay informed on industry trends and make informed decisions about firm value. To learn more or purchase the full report, click here. Kyle Ahern is manager of Awards and Analytics at Zweig Group. Contact him at kahern@zweiggroup.com.

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THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

OPINION

From imposter to Rising Star

Early to mid-career professionals can overcome burnout and imposter syndrome with support from leadership, mentorship, and proactive career engagement.

I ’ve decided to write this article to speak directly to the embattled early to mid-career professionals. Congratulations – you are recently promoted, being given larger project responsibilities, and supervising staff! You are often the face of your firm for a project or a specific client. As the responsibilities increase, the walls seem to push in as well. With all that success you’ve seemingly had, you are not yet in a position to influence hiring decisions or team assignments. However, you are expected to meet the next deadline and deliver exceptional services, it seems as if your career and your ability to gain influence within your firm depends on it.

Michael Makris, P.E.

If I am describing you, trust me you are not alone. I was recently exactly where you are. I had success early in my career by meeting and exceeding manager and client expectations, always setting the bar higher for myself than it was ever set for me. I received great performance reviews with the raises and promotions that followed. As I found myself being a manager of multiple projects for our firm, I discovered challenging schedules and the need to manage construction problems. The realization that the larger the project, the more problems that come with it, was a tough

pill to swallow for someone so focused on chasing perfection. Eventually the burnout and reduced confidence followed. Despite all the success I had, imposter syndrome set in. Fast-forward to early 2024 – I received an email from our marketing team telling me that members of our firm leadership wanted to nominate me for Zweig Group’s Rising Stars Award! The nomination alone was an accomplishment that helped me improve my mindset. A few months later I found out I was selected

See MICHAEL MAKRIS , page 4

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

4. Add to your circle of mentors. You have grown in your career, so should your circle of mentors. 5. Remember learning is ongoing, you don’t have gaps in your knowledge, just opportunities to refine your expertise. For firm leaders considering nominating members of the team, I have this request for you: 1. Nominate, but don’t wait for an award to recognize your Rising Stars. 2. Offer mentorship. 3. Ask and offer additional resources and support to those who are likely overstretched. 4. Celebrate the accomplishments of your Rising Stars. It took roughly one year for these changes in my own mindset, and the encouragement of leaders within my own firm, to set me up for more growth than I had before. I found myself with a much less embattled view of my day to day. Hang in there – change is close. If your mindset can change and your leadership will support you, the trajectory of your career has only just begun to show itself. You belong in the AEC industry. Michael Makris, P.E. is a project manager at BHC and a 2024 Rising Star Alumni. Connect with him on LinkedIn.

MICHAEL MAKRIS, from page 3

as a Rising Star in the AEC industry, and my firm leadership invited me to attend Zweig Group’s ElevateAEC Conference. I was able to spend multiple days with one of our founders and other key leaders as we sought ways to improve our business. That experience allowed me to strengthen my relationship with those key firm leaders. As we have entered a new year of planning and growth opportunities, I have found myself in a different place than I was one year ago. I am more routinely invited to performance discussions; my input is given consideration around hiring decisions and many more challenges. I’ve been offered the opportunity to be a leader in our company for key initiatives. The respect I’ve earned within our firm is felt daily. With that respect I found comfort in bringing attention to the challenges I often face in my role and seeking advice on how to address them. To that embattled mid-career professional I mentioned earlier, you don’t have to wait for an award, or even a nomination, to seek the support you need in your career. I have the following advice for you: 1. Seek feedback from your leaders. 2. When you have something to contribute, make sure you ask to have a seat at the table. 3. Don’t be afraid to say you are overstretched and in need of additional resources.

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

FROM THE FOUNDER

I f you are a leader/manager, one key to your success is that you need to get out of doing everything that you can delegate to someone else. I have never been worried about giving all my work away and having nothing to do. My experience is that you will always find something new to work on that is a better use of your time. As a leader or manager, you are probably super busy and will get stuck if you cannot offload a lot of what you have to do. Get out of doing everything you can – mostly

Mark Zweig

Some engineers and architects who have become managers because they were good engineers or architects really struggle with this. Those who struggle either think they can do a better job than anyone else at something or don’t want to invest the time it takes to train someone else. So they get onto the virtual hamster wheel of not having enough time to do what they have to do and because of that not having the time they need to train someone else, either. That said, I’m going to contradict myself now. Sometimes you need to do work that is way below your pay grade just to show your people that you are willing to do so. Trash needs to be emptied

– no problem. Toilet unclogged – you can do it. Drawing needs to be fixed – done. You are setting an example. It’s just that you don’t want to be doing this sort of thing all of the time. The key is to only do it sporadically to demonstrate you aren’t above doing real work. It helps break down the communication barriers between you and everyone else, and this is critical to your ability to lead. No doubt, proper delegation does take some finesse that only comes from practice. I don’t have any secrets there. I’m inclined to give someone an assignment with a date and answer any questions they may have and tell them to “go to it.” I would also

See MARK ZWEIG , page 6

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

BUSINESS NEWS CORGAN UNVEILS “RESIDENCY RESHAPED” OFFERING NEW INSIGHTS ON THE MULTIFAMILY MARKET Global architecture and design firm Corgan has released a new research report, Residency Reshaped , addressing the transformative shifts in the multifamily housing market. This study explores how renters’ priorities are evolving in the wake of hybrid work trends, affordability challenges, and changing expectations for living spaces. The findings offer developers and property managers actionable insights to better align with renter needs and preferences. The Residency Reshaped report combines extensive research — including a survey of 1,480 renters across six key Sun Belt markets (Atlanta, Austin, Dallas, Denver, Nashville, and Phoenix) — to highlight critical gaps between industry perceptions and renters’ lived experiences. Amid an ever-changing market, traditional assumptions about location, amenities, and design are being challenged.

Rethinking location. Renters are prioritizing comfort, space, and wellness over proximity to urban centers.

without relying on passive or organic interactions. “Our comprehensive multi-method framework integrates market trend analysis and in-depth interviews with decision-makers like property managers and developers. This approach helped us to gather deep insights into prevailing industry mindsets, which are further enriched through detailed renter surveys. We began with the Sunbelt, but this repeatable framework allows us to take a localized look into new markets with more insights to discover,” said Melissa Hoelting, assistant director of Hugo. Corgan is an employee-owned architecture and design firm with 19 locations and more than 1,000 team members globally. The firm, ranked as the No. 4 architecture firm by Building Design + Construction, works with clients in a variety of sectors including aviation and mobility, data centers, education, health, mixed-use, multifamily, office, and workplace. Founded in 1938, Corgan has developed a strong reputation for agility in design by anticipating marketplace changes and leading clients to thoughtful, data- driven design solutions. Its research insights and design expertise empower the organization to foresee emerging changes and develop solutions that minimize risk, create flexibility, and maximize longevity.

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“We’ve uncovered what renters value – which requires looking beyond conventional wisdom and diving into the realities of their daily lives – and with that we can offer insights on how to bridge the gap between industry expectations and renter experiences. With insights from Residency Reshaped , developers have an opportunity to rethink how multifamily housing can better serve today’s renters,” said Stephen Lohr, multifamily studio leader at Corgan. “Our goal is to help clients create spaces that not only attract residents but keep them.” Residency Reshaped ’s methodology brought together secondary research, in-depth interviews with property managers and developers, and a survey of renters in six cities. The report offers a myth-busting approach, comparing industry assumptions with renter feedback to expose discrepancies and validate effective strategies. These insights support developers in enhancing property appeal, improving resident retention, and fostering community connections. While renters are often indifferent to passive communal amenities like recreation rooms and coworking spaces, they value opportunities for community engagement through structured events, such as fitness classes and seasonal celebrations, promoting connections

Affordability amenities matter most. Affordability and the relevance of amenities have surpassed location as primary drivers of renter decisions. and Innovation is key. Emerging technologies, such as EV parking and smart home devices, are increasingly expected; renters want amenities that are future- driven to keep pace with evolving technology.

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cannot offload a lot of what you have to do. What do you all think about this subject? Mark Zweig is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com. “No doubt, proper delegation does take some finesse that only comes from practice. I don’t have any secrets there. I’m inclined to give someone an assignment with a date and answer any questions they may have and tell them to ‘go to it.’”

MARK ZWEIG, from page 5

say, “If you have problems or other questions just ask. But otherwise, I am counting on you to get this done.” Those who prove they can get done what I asked them to do will be asked to do it again. Those who don’t may never be asked again. Just depends on the situation. You can find a lot of instruction on proper delegation techniques online. Most of the time I think they are making it harder than it has to be. Smart people will figure out how to get things done if they know that’s what you want. No matter what your tendencies as a leader and manager are, you are probably super busy, and going to be stuck if you

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

OPINION

In the driver’s seat

I magine a car. The engine is the powerhouse, providing the energy and drive that propels the vehicle forward. Similarly, the marketing team is the engine of a business, generating momentum through branding, proposals, and content creation. By collaborating closely, marketing and business development can craft stories that will steer your firm toward success.

Meanwhile, the headlights light the way ahead, illuminating opportunities and guiding the journey. Business development plays a vital role in identifying trends, forging partnerships, and paving the road to growth and expansion. Just as a car needs a powerful engine and effective headlights to navigate the road ahead successfully, a business thrives when a strong marketing team works in tandem with a skilled business development team. Consider this: according to Zweig Group, 56 percent of Marketing Excellence Award winners were fast-growth firms – compared to 25 percent of other firms. Moreover, 71 percent of these winners were high-profit firms. The message is clear: in addition to business development, effective marketing can double your firm’s chances of achieving rapid growth and success.

As a marketer and content creator, I’ve witnessed firsthand how the synergy between marketing and business development transforms businesses. Here are three key strategies your firm can adopt to maximize this impactful partnership: 1. Selling through storytelling. Storytelling is a powerful sales tool, especially for business development. According to the National Storytelling Network, storytelling is “the interactive art of using words and actions to reveal the elements and images of a story while encouraging the listener’s imagination.” It forges connections and makes your message memorable. Most importantly, it drives results. Research supports this: A 1969 Stanford study asked students to memorize a list of 12 words.

Sara Grayum

See SARA GRAYUM , page 8

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

BUSINESS NEWS BOWMAN SELECTED TO LEAD ENGINEERING AND DESIGN ON 64 MW SOLAR INSTALLATION Bowman Consulting Group Ltd., a national engineering services firm delivering infrastructure solutions and program management services to clients who own, develop, and maintain the built environment, has been selected by J. Ranck Electric, Inc. to lead the re- mobilization of a 64 MW direct current solar project in Southeast Michigan. This expansion will enhance the substation’s capabilities to support additional solar power generation, integrating new photovoltaic capacity alongside existing wind power infrastructure.

Under this contract, Bowman will perform a comprehensive suite of services, including electrical engineering, civil design, and system modeling to support the integration of JRE’s solar power installation into the U.S. power grid. The contract also includes critical safety and capacity studies such as arc flash hazard assessments, short-circuit and load flow studies, thermal ampacity analyses and harmonics evaluations all aimed at enhancing the substation’s performance, reliability and safety as it incorporates increased renewable energy. “This project marks significant steps forward both in our energy services

practice and in our partnership with J. Ranck Electric,” said Dan Swayze, chief operating officer of Bowman. “We are excited to deploy our energy engineering and design capabilities to help JRE enhance Michigan’s renewable energy capacity and grid stability. This assignment reinforces our commitment to delivering diversification and organic growth as we continue to expand our renewables and traditional energy portfolio nationally.” As part of its services, Bowman will also provide ongoing consulting through the construction and commissioning phases.

Additionally, social platforms help maintain and strengthen connections. After meeting a prospective client at an event, a quick LinkedIn connection can spark ongoing conversations. Sharing updates, interacting with posts, and messaging directly helps ensure your relationship remains active and productive. 3. Enhancing client engagement. A strong partnership between marketing and business development creates tailored, client-focused content. Marketing teams gain insights into client needs and trends, while business development ensures the message resonates with the right audience. The key is knowing who you’re speaking to. If your firm targets K-12 projects, are you addressing architects or superintendents? While both are essential stakeholders, their priorities differ – architects may focus on innovative design, while superintendents seek cost-saving solutions. Crafting tailored narratives for each audience ensures your message lands effectively. By collaborating closely, marketing and business development can craft stories that position your firm as an industry leader. Sharing these narratives through website articles, social media, and targeted email campaigns not only engages clients but also showcases your firm’s expertise in a dynamic and memorable way. The collaboration between marketing and business development is essential for a firm’s success. By leveraging storytelling, staying proactive on social media, and understanding the unique strengths of each team, firms can create memorable content and interactions that resonate with clients and drive growth. With the right approach, even the smallest firms can keep the car running smoothly and the headlights shining brightly, guiding them to success on their unique journey. Sara Grayum is a digital content specialist and associate at Dunaway. Connect with her on LinkedIn.

SARA GRAYUM, from page 7

One group used general memorization, while the other created a narrative incorporating the words. The result? Ninety-three percent of the storytelling group remembered the words, compared to just 13 percent of the memorization group. Framing information within a compelling narrative made it nearly seven times more memorable. For firms in the AEC industry, storytelling is equally impactful. Instead of simply listing capabilities, consider creating narratives that teach your audience and invite them into the story. Transforming project descriptions into engaging Q&A responses or holding interviews with engineers or project managers allows clients to visualize how your firm overcomes unique challenges. This personalized approach helps clients see themselves in your story, making your expertise unforgettable. 2. Leveraging social media. Social media is an indispensable tool for building trust and driving business development. According to Visual Objects, 76 percent of consumers check a company’s online presence before engaging in- person. In addition to your firm’s website, platforms like LinkedIn and Instagram allow you to showcase your firm’s value and expertise, keeping your brand top-of-mind. For smaller firms, where individuals may be juggling both marketing and business development roles – using social media can be incredibly beneficial. Regular posts about projects, team highlights, and client successes can build brand recognition and credibility. Authentic captions and reposting industry content with proper credit can further amplify your digital presence. When selling professional services, you’re ultimately selling your people – their creativity, expertise, and relationships. Social media reinforces this by creating meaningful touchpoints. For example, a LinkedIn post highlighting a school project, paired with a quote from the project manager, strategically positions your firm as a leader in the K-12 sector, while also fostering connections with the technical staff and potential clients.

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

OPINION

Building trustworthy relationships

When we intentionally build connections focused on authenticity, we create healthy, long-lasting relationships that drive a return-on-investment.

T he ability to build trust has been a focus point for many organizations over the past decade or two as new generations enter and take over the modern workforce. Gone are the days of “My way or the highway” or “We have the best product or service, and people will buy it regardless of how we treat them” because the concept of trustworthiness has entered the conversation.

Duncan Robertson, CPSM

TRUST VS. TRUSTWORTHINESS: WHAT’S THE DIFFERENCE? The chasm between trust and trustworthiness might seem nonexistent, however, as we look deeper, we realize there are nuances that significantly differentiate the two. As put clearly by Ludmila Praslova of FastCompany.com, trust has become a buzzword within modern businesses. Praslova goes on to state that only 50 percent of employees trust their employer, and more than 60 percent of people “feel that business leaders use deception.” It is an important distinction to make, because just as building trust is the foundation of any great relationship, trustworthiness is a long-term effort that lasts over time, shows a consistent, genuine concern

for others, and is part of all aspects of a relationship. While trust can be taken away in a fraction of the time it took to build it, trustworthy relationships rely on years of authenticity in words, actions, and behaviors to stand the test of challenges or conflicts. TRUSTWORTHY RELATIONSHIPS CREATE POSITIVE CULTURES. The pandemic changed the way we operate in business since 2020. During the pandemic, people took to LinkedIn and other social networks to stay connected in a time of isolation and loneliness. It was during that time when the revolution of authenticity took over the business world. Everyone wants to build genuine relationships with one another, but what does it look like to develop these

See DUNCAN ROBERTSON , page 10

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

ON THE MOVE WARE MALCOMB ANNOUNCES PROMOTION OF EMERALD MASANGCAY TO DIRECTOR, SITE PLANNING IN OAK BROOK IL OFFICE Ware Malcomb, an award-winning international design firm, announced that Emerald Masangcay has been promoted to director of site planning in the firm’s Oak Brook, Illinois, office. In this role, she will spearhead the regional growth and leadership of the Site Planning team, which partners with

the project teams in the initial stages of project pursuits to define design direction and project scope while identifying potential site challenges. Operating on a global scale, the Site Planning team contributes to projects and initiatives across all of Ware Malcomb’s national and international offices. Masangcay has more than 20 years of industry experience leading site planning, space planning, and

architectural building design services for a diverse range of major commercial and industrial client projects. She joined Ware Malcomb as a project designer in 2019 and was subsequently promoted to studio manager, concentrating on design advancement and implementing enhanced delivery methods. Her focus on embracing technology and process refinement has led to a high-performing, driven team.

2. Cultivate a culture of open communication 3. Be mindful of your own limitations by actively seeking constructive criticism and being receptive to different viewpoints With our time and attention being pulled in many directions, we must be intentional as leaders to seek constructive criticism that will make ourselves and our firms better. CREATING HEALTHY CLIENT RELATIONSHIPS. Just as it is important to build trustworthy relationships within internal teams, it is equally important to build those same genuine connections with the partners and firms you are hoping to work with. Building trust comes in many shapes and sizes when dealing with external relationships, but here are some discussion topics to consider when reaching out to someone before talking about project specifics: ■ Personal interests. Whether we realize it or not, people love talking about themselves. When you can connect with someone about a hobby, sports team, or music genre, it is easier for that connection to become a trusted industry partner. ■ Family. If you have some background on their family, ask about the kids’ recent achievements or upcoming family vacations. Most of people’s time spent outside of work is with their families. ■ Upcoming industry events. The AEC industry is full of various organizations and groups, and it is likely that your firm is a member of similar organizations or attends some common events. Connecting with potential teaming partners or subconsultants first on a personal level makes the person on the receiving end of the conversation more of a friend and less of just another name in the rolodex. When we are intentional about building connections focused on authenticity, we create healthy relationships that lead to opportunities to work together later. Doing this not only leads to increased satisfaction in positions of leadership but also adds fulfillment in the ability to add value to our firms to create working relationships that drive a return-on-investment. Duncan Robertson, CPSM, is director of business development and marketing at Tamarack Grove Engineering. Contact him at duncan.robertson@tamarackgrove.com.

DUNCAN ROBERTSON, from page 9

deep, meaningful relationships over time? To build healthy, sustainable business relationships, you must start with genuine curiosity and care for others. So, what does it take to get to the point of a trustworthy relationship? In Patrick Lencioni’s The Five Dysfunctions of a Team , the author describes five key principles that must be overcome to create a healthy team dynamic. The five dysfunctions are: 1. Lack of trust 2. Fear of conflict 3. Lack of commitment 4. Avoidance of accountability 5. Inattention to results These principles are set up in a pyramid, with the lack of trust at the foundation. Trust is a foundational principle and when it is missing, there is often nothing to build off. When seeking to build genuine workplace relationships with colleagues and clients, it is important to start with trust. Focusing first on internal connection within your firm, trust is the core of any peer-to-peer relationship. When peers trust each other on a personal level, they are far more likely to support each other in times of need on projects and personal matters. Whether you work for a large or small firm, in-person, hybrid, or fully remote, connection is vital to the success of your role at your firm. An increase in trust not only leads to deeper connections between people but also translates to greater efficiency and productivity. Eliminating the need to constantly check on the status of a task or project with a peer because of the presence of trust means there is more time to tackle bigger issues. CEO DISEASE. Another issue that rises to the surface when there is a lack of trust is a term called “CEO disease,” which was coined by Daniel Goleman et al in the book, Primal Leadership . As described in Primal Leadership , “CEO disease” refers to an information vacuum around the leader when there is a climate of fear to share negative news. Fortunately, “CEO disease” does not happen out of the blue; it is the result of trust being absent for a long time. There are steps you can take to make sure you avoid this negative effect on your team: 1. Actively seek out honest feedback from diverse perspectives

THE ZWEIG LETTER MARCH 17, 2025, ISSUE 1577

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